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hmmm thanks qlds007… Sounds a lot harder than first thought…
I do know people who have "contacts" re prop dev, I might jsut settle for something a little easier for my first?
Thanks for the help.
Network….. I became good friends with a Solicitor and he does a fantastic job in looking after the legal process. I have heard some horror stories from when i was working in RE using conveyencers… But then there would be the same for Solicitors i am sure? Just ahven;t heard them.
My solicitor friend deals with all my property transaction at a discount and he is very efficient. Never had any issues.
Thats just my personal experiences.
In response to Tysonboss1
A good tenant wont whinge, they will just put their notice in to leave and find another property if the rent gets increased by a money hungry landlord. As i said previously… I believe you shouldn't over price your property, however, annual CPI increases are fine, just keep in mind turnover for finding a tenant. When i was a proeprty manager, winter would have an average 5 week turnover and summer 2 weeks.
To miss out on $5 a week or $10 a week is relatively good value as for asking over market rent and gettinga tenant who doesn't pay rent, wont leave and going to tribunal to try and get your money back, (which doesn't always happen) and having to take the day off work to go, or if it is managed by an agent, paying them to appear for you, (not part of the management fee)
Good tenants are worth keeping! Doesn't mean you can't increase rent. But ask them first and maybe do as Steve says and offer an extra service for more rent and build the increase into that….
Phorsha – I am unsure as to whether or not the laws are different in WA as to NSW, but i was a property manager for a few years in NSW and can tell you that here, you can not up the rent in a lease period unless it is agreed to by the tenant and put in the lease and signed by all parties.
I wouldn't suggest following market value. Unless you have something that greatly sets your property apart from the rest? I agree with yarpos… A good tenant paying less rent is much more economical than a poor tenant paying bad rent.
I know when i was a tenant, i would look for the best deal, with criteria that suited my needs. The cheapest place in the area that met my needs, i applied for and i never got knocked back with my credentials, and always paid rent on time and looked after the house. The bad tenants with bad records are more desperate and against my credentials weren't accepted, they were forced to pay market rent or above for landlords hanging out for the extra few dollars…
Just something to think about…
This is my first post here, and hopefully first of many as I look at developing an investment strategy for my self and wife…. So hello everyone….
On topic, I have had the unpleasant experience of working within the real estate industry as a property manager for 3 years, (thank god that part of y life is over!) and I can't leave without sharing my thoughts on this topic.
I think people should be very careful on what they take on board from Jenman. His business methods are self proclaimed to be the most ethical, however after speaking to many ex Jenman employees, its different kettle of fish behind closed doors.
This is the same person who is anti Auctions and yet sells his own Sydney home years ago at Auction. I don't know much about wrapping, but just be careful of anything you hear from Jenman.
Here you can read about Neil Jenmans business ethics. (not the ones he advertises)
http://www.jenman.org/deceiver.htmlWell actuall this Real Estate Salesperson is only new (as am i) and been in the industry only 6 months and is very mucha pressure salesperson (woman) and is very stubborn in her ways. shes 40 and because thats the only thing she knows she laughs at my ideas.
I would have to say that after living and working in the heart of Melbourne for 2 years and moved back home to NSW, Melbourne is awesome! I moved there when i was 18 and don’t think i will stpo missing it. The only downfall is i was raised on the beach in Nelson Bay just past Newcastle and from melbourne a descent beach is ours away! But much better lyfestyle than SYdney! People aren’t as snobby and the attractions in Melbourne far outway those of Sydney…[:p]
